Fleetx.io raises ₹113 cr in Series C to fuel growth, eyes IPO

Gurgaon-based SaaS logistics platform Fleetx.io has raised ₹113 crore in a Series C round led by existing backers IndiaMART Intermesh and BEENEXT’s Accelerate Fund, comprising both primary and secondary investments. 
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Gurgaon-based SaaS platform Fleetx.io has secured ₹113 crore in Series C funding. The round saw a mix of primary and secondary investments led by its existing investors, IndiaMART Intermesh Limited and BEENEXT’s Accelerate Fund.

The company will deploy the funds to accelerate product innovation and scale a sustainable, profitable, and predictable sales engine for both mid-market and enterprise customers across India. With this funding, the company also plans to double the ARR while becoming profitable as it looks for a potential IPO in the next few years.

Commenting on the fundraise, Vineet Sharma, Co-founder and CEO of Fleetx said, “This round gives us more than enough runway to become fully profitable within the next year and prepare the company for IPO readiness. As we sit on the huge logistics data points, we’re in a unique position to leverage AI to tackle some of the most complex challenges in the sector. We will continue to invest aggressively in our product capabilities while building a durable, efficient business delivering measurable value to our customers.”

Founded in 2017, the company operates as a SaaS company in logistics and transportation. The company now supports over 2,000 businesses, including over 100 large ACV enterprise accounts, across transportation, manufacturing, mining, FMCG, and cement sectors. Its clientele includes industry leaders such as Ultratech Cement, Unilever, Adani Group, Godrej, Vedanta, Shree Cement, MP Birla Group, Maersk, Hindalco, Grasim, AM/NS India, Bisleri, Panasonic, and DTDC, underscoring its position as the most trusted logistics SaaS partner in the country.

Published on May 28, 2025